Forecasting Research in Motion + Nokia Corporation: BBRY tipped to remain under pressure but NOK could see recent rebound extended
- Category: Share Price Drivers
- Published on Monday, 22 April 2013 11:05
- Written by Will Peters
Research In Motion Ltd (NASDAQ:BBRY): BBRY shares continue to face pressures to the downside
Shares in Research In Motion closed a healthy 2.52 pct higher on Friday coming to rest at 13.84.
Despite BBRY's recent break higher we note that the overall trend for the stock remains downward.
An analysis conducted by Trading Central says: "the downside prevails as long as 15.3 is resistance. Our pivot point is at 15.3.
"The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day MA (respectively at 14.52 and 14.43)."
Nokia Corporation (ADR) (NYSE:NOK): A rebound due?
BBRY's sector peer Nokia saw New York listed stock close a hefty 3.15 pct in the red on Friday at 3.07.
Despite the heavy selling pressure Trading Central say they are positioned for a rebound in the stock.
After looking at the NOK charts Trading Central say:
"2.99 is our pivot point. Our preference: short term rebound towards 3.62.
"The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 3.36 and 3.58)."
Market brief: Stocks and commodities head higher
Looking at the markets today we see European equities are trading higher for a second straight session after a string of encouraging results from some major firms raised optimism for the earnings season.
Lee Mumford at Spreadex says:
"Asian stocks had a strong run overnight led by Japanese exporters as the yen slid to a four-year low against the dollar. The Yen weakened toward 100 per dollar after the Group of 20 nations offered no opposition to the country’s policy stimulus.
"Gold continued to advance for a fifth day and copper extended its decline into a bear market. Crude futures advanced 0.6 percent in New York after many investors speculated that declines over the past three weeks were excessive."
Breaking: UK government sells share in URENCO
The British government has announced plans to sell its share in Urenco, the uranium enrichment company, unleashing a new wave of privatisations in an attempt to cut the public debt.
The UK government’s one-third share in Urenco could fetch up to £3bn, making it one of the biggest privatisations in the UK in years.
It may sell some or all of its stake and the form and timing of the proposed sale are not yet known.
The British government has secured agreement from the Dutch government, which owns a third of the group, and the German utility companies RWE and Eon which jointly own the remaining third.
Newer news items:
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- Dell Inc. (NASDAQ:DELL): DELL at 15 USD? Don't be greedy - '$13.65 is a pretty good price for shareholders' says analyst - 22/04/2013 13:18
- Banco Bilbao Vizcaya Argentaria SA (ADR) preferred to Banco Santander, S.A. (ADR) by Berenberg on greater exposure to a reforming Mexico - 22/04/2013 12:02
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Older news items:
- Tech: Royal Bank of Scotland Group plc + HSBC Holdings plc: RBS shares forecast to rebound higher but HSBA stock still seen in technical downtrend - 22/04/2013 10:01
- Barclays plc: BARC earnings target downgraded by Nomura as analysts see weaker revenue environment - 22/04/2013 09:58
- Tech: Lloyds Banking Group plc + Barclays plc: LLOY tipped for a rebound while BARC forecasted to remain stuck between 260 and 323 - 22/04/2013 09:55
- Randgold Resources Limited : RRS shares power higher by 3.34 pct; traders tipped to be targeting 5400 say Accendo Markets - 22/04/2013 09:05
- Oil and gold prices forecast to regain composure - but most analysts agree short-term could well see further selling pressure materialise - 19/04/2013 12:01
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